Sole Proprietorship to Private Limited Company
Here, in India there are numerous forms of companies operating their business at national and international level. New Companies Act 2013 in India stated different rules and regulation for registration of different companies. It is depend upon owner whether to have sole proprietorship or One Person Company or partnership firm or private or public company. If you owned proprietorship and need to transfer to private limited company then you need to adhere with complete set of rules and regulation that require to apply for registration of private limited company in India.
There are many reasons where one needs to transfer one form of company to another including business growth, merger and acquisition, broaden of board of member and many more.
There are many benefits while transferring a proprietorship firm to private limited company as mentioned below :
- Shareholders will favor you in raising your capital. No need to worry for the same.
- With private limited Company there is a separate legal existence of business assets where personal assets will not be vulnerable anymore to be used for debt settlement.
- You will get taxation benefits under the head of private limited company; where you can attract new clients while growing your business.
Procedure of Conversion Sole Proprietorship firm to a Private Limited Company.
- We need you to fill online form of private company registration.
- We prepare all of your legal documents and finally get sign by you. At the same time we also prepare with legal forums and submit to the concern authority.
- We keep track over the status of private business incorporation application if incase of any objection we do submit require proofs.
- After verification of all the require documents, we apply for certification of private limited company formation in India.